Well, it’s that weekend again. Time to pull “that” file folder out of the cabinet, separate and create piles of receipts, papers and other paraphernalia on my desk top and start entering numbers into the tax software. 
I know that most people dread the thought of having to file a tax return but if you are organized and have the ability to read and follow instructions, it is not really all that bad. There is however, a bigger picture to consider here and I wish that parents, schools and politicians would spend more time explaining the benefits and purposes of income taxes so that people could rethink the negative stigma of “doing their taxes.”
I’ll touch on misguided tax applications later but it is important to remember that taxes create roads to drive on, schools to teach our children, hospitals to heal our sick, armed forces to protect our freedom, police to keep us safe, libraries to encourage reading, parks to play in, and so much more. A fair and reasonable process for collecting taxes and using them is the hallmark of a civilized society. Of course, we could revert to the good old days where the toughest son of a bitch in the surrounding country would simply bang on our door and demand a portion of our worldly goods. It’s still done that way in some parts of our planet, so be grateful.
It bothers me how many people turn this element of their life over to complete strangers because they think, or at least say, that preparing and submitting taxes is too complicated. This is a straight out opinion on my part, but often those people say that because they simply haven’t tried or are lazy enough to believe what someone else has told them. I am more than shocked by the number of people who have a simple income slip or perhaps just a social assistance slip and run to a tax preparer and pay money (which is obviously a scarce commodity for them) to have somebody with a few hours training submit their return. It would take about 2 minutes on the phone with the tax department to explain how to do it themselves. Seems like an appropriate time to offer this week’s
BOOMER TUNE ALERT
There are several versions of the song, “Money,” the first of which was written by Berry Gordy, the legendary head of Motown, in 1959 and released by Garret Strong. It went on to become the first hit song from Motown. It has been covered by absolutely everybody over the years. For me, the best rendition was created by the British alt rock band Pink Floyd on the mega hit album, “The Wall.” It was unique because of a 20 second loop they included that had the sound of an old fashioned cash register, the tossing of a roll of coins into a container and the iconic sax solo. Give it a listen:
When it comes to most people, taxes make sense when they think about it but their chief concerns are twofold, 1) the amount of taxes they pay and 2) how their taxes are spent – hello Bombardier. These two concerns are directly linked as we give the power to spend to our politicians who turn around and constantly bribe us with our own money. The sad part is that as an electorate we continue to fall for this scam and think that the “government” giving us some of our own money in the form of pensions, social benefits and other tax inducements is a good thing. We then proceed to complain about how much tax we pay.
I started doing my own taxes a long, long time ago and then enlisted the aid of a tax software program about 10 – 15 years ago and I have some tricky parts on my return – foreign income/business income and expenses – thanks for buying my books – but the process is pretty painless. My point about taxes is that it is such a vital part of our financial lives and represents such a large portion of our earnings that I can’t understand why otherwise intelligent people would turn over this process to someone else. Honestly, you will have a much better understanding of your own money by taking on the task yourself. There is all sorts of help available including tutorials and videos – if you are in Canada, go here if you need it.
OK, time to sit down, haul out the file folder (you have one don’t you?) and assemble your tax return, submit and relax. You are making a difference in your life and the lives of others with your contribution to the greater good. Once you finish, perhaps you would like to join me in this celebration recipe for dinner.
FIRE + MEAT + WINE = DINNER